I'm looking for a Property Developer to Mentor Me

Hi Everyone,

I am in my twenties and have acquired a few investment properties over the past couple of years. I Have strong desire and passion in becoming a property developer. I'm very ambitious and always think big.

I want to become a successful property developer and I need someone to mentor and guide me through their own successes and mistakes. I'm looking for someone who have had experience in property and land development.
At the moment I got minimal experience in property development but everyday I'm educating my self with new piece of information with property development and acquisition. I'm self motivated and need someone to hold me accountable and responsible so that I can be disciplined to make a mark for my self in the Property Development business.

I was hoping to find someone that could give back and help me out with mentoring me and passing on advice. My income from current active and passive income is enough for me to survive. I'm willing to work for free for developer in return for the teachings and learning.

If there is anyone out there that would be willing to share some advice & guidance and lives within Melbourne or anyone that would be willing to communicate via email or phone please contact me.
 
Hi haristar17,

I concur with Aaron C as per capital for a start.

In the mean time read as much as you can,books,good info on SS and ask questions.

You don't need anyone to hold your hand when you have the gumption eliminate the numption.

Cheers Spades.
 
Hi Everyone,

I am in my twenties and have acquired a few investment properties over the past couple of years. I Have strong desire and passion in becoming a property developer. I'm very ambitious and always think big.

I want to become a successful property developer and I need someone to mentor and guide me through their own successes and mistakes. I'm looking for someone who have had experience in property and land development.
At the moment I got minimal experience in property development but everyday I'm educating my self with new piece of information with property development and acquisition. I'm self motivated and need someone to hold me accountable and responsible so that I can be disciplined to make a mark for my self in the Property Development business.

I was hoping to find someone that could give back and help me out with mentoring me and passing on advice. My income from current active and passive income is enough for me to survive. I'm willing to work for free for developer in return for the teachings and learning.

If there is anyone out there that would be willing to share some advice & guidance and lives within Melbourne or anyone that would be willing to communicate via email or phone please contact me.

Hi haristar,

Ambition is great. Developing is a game that requires capital as Aaron says, something you may or not have, however, experience is invaluable. Do you have a background in trade at all to understand the ins and outs? I think that will always help. Are you planning on becoming a registered builder?

In terms of working for a developer, this may be a small developer that does small projects or an application with a large scale developer. I suggest you start small, not sure if there are books as i learn by doing.

Cheers, Ivan
 
There are some decent threads on people's development projects have a read of them if you haven't. Then could post some questions on that persons thread, or even PM.

Good luck, and just to be another +1 capital is the key.
 
Hi haristar,

Ambition is great. Developing is a game that requires capital as Aaron says, something you may or not have, however, experience is invaluable. Do you have a background in trade at all to understand the ins and outs? I think that will always help. Are you planning on becoming a registered builder?

In terms of working for a developer, this may be a small developer that does small projects or an application with a large scale developer. I suggest you start small, not sure if there are books as i learn by doing.

Cheers, Ivan

Hi Redwood

how would becoming a registered builder work, is it a long/costly process.
and what benefits come of it, does it mean you can hire builders to work under your name and they could do a development for you at cheaper cost?
 
To become a builder there are different requirements that need to be met which may take months or years to attain. Check the department of fair trading for more guidance.

For it to be cheaper you need to be involved watching over the tradies. The 'builder' is simply a licenced project manager.

Your profit will depend on how good a project manager you are. Even if you have a licence, be honest with yourself if that is you.

Reason I'm getting into it is too many crap builders out there.
 
Redwood
Youve certainly come to the right place. There are plenty of good threads on here which can point you in the right (or wrong) direction.

Read up on threads from Westminster and MTR. There was also a great thread by MichaelW who detailed his journey from start to finish - it was a great 'warts and all' tale. I have a thread on what not to do "Life - its not all beer and skittles' (which is due for an update).

Capital and Cash Flow are critical at the begining, because you wont have either at the end. ;)

From what I have found, you never know what you need to know, until you need to know it. Every property will be different and every one of them will have challenges.

Good luck
Blacky
 
In the mean time read as much as you can,books,good info on SS and ask questions.

Agreed. Lots to learn before you begin.

You could start by reading the link in my sig if you want to get a feel for the journey, I blogged my entire development on here some years ago.

Cheers,
Michael
 
Hi Michael,

In the end of your development did you actually made good money?

i understand the process and experience were sure fun and memorable.

Cheers
 
Hi Everyone,

I am in my twenties and have acquired a few investment properties over the past couple of years. I Have strong desire and passion in becoming a property developer. I'm very ambitious and always think big.

I want to become a successful property developer and I need someone to mentor and guide me through their own successes and mistakes. I'm looking for someone who have had experience in property and land development.
At the moment I got minimal experience in property development but everyday I'm educating my self with new piece of information with property development and acquisition. I'm self motivated and need someone to hold me accountable and responsible so that I can be disciplined to make a mark for my self in the Property Development business.

I was hoping to find someone that could give back and help me out with mentoring me and passing on advice. My income from current active and passive income is enough for me to survive. I'm willing to work for free for developer in return for the teachings and learning.

If there is anyone out there that would be willing to share some advice & guidance and lives within Melbourne or anyone that would be willing to communicate via email or phone please contact me.


You've been watching too much tv fantasy. In reality it doesn't work like that. Someone successful isn't going to "take you under their wing" and show you how to make money and why should they? You have to get your hands dirty and learn yourself just like everyone else did.
 
I play tennis with a developer. He does all the paperwork and works with his builder friend.
I asked him if I could 'watch' him doing one project from the start to finish. He said yes (out of politeness I believe) but never happened :)

I'm thinking of starting with a sub-division project first. It seems to be the less riskier development. However, need a bit of capital to start with :mad:. You could buy & hold two properties with that capital :)
 
I'm thinking of starting with a sub-division project first. It seems to be the less riskier development. However, need a bit of capital to start with :mad:. You could buy & hold two properties with that capital :)

That is what I have been thinking to start off with. I (try to) read all the stuff related to subdivision and development, but not yet comfortable.

And, yes the capital has been an issue too :(
 
Most important thing as a developer is capital - build that up first.

That was exactly my first thought.

Think at least around $200k to get started for a simple 2-3 unit build. That's why I just do buy and holds for now.

While you save that up you'll have plenty of time to read the forum.
 
Hi HS
I see you are from Melb, what about reading oc1 posts on development projects, he is also from Melb, which helps. I think there is also a post development 101. May be very useful.

Agree with everyone, you need lots of capital depending on the size of the project/s, and also enough of a buffer when building to cover holding costs.

Some people start on smaller projects which requires less capital, perhaps less risk. Buying a house, subdividing and then selling this off and then building a new property at the rear, of course the figures need to stack up, but this would be less strain on cash flow. One way to get into this at a much lower entry level and learn a lot.

The downside to developing is it takes so long from purchase of property to final turnkey stage/completion, that's lots of money tied up. The ideal scenario would be to build more than 1 project pa, but start slow watch the cash flow and increase equity. Hopefully you have one project that becomes your income and the others pure profit.

MTR:)
 
Hi Everyone,

I am in my twenties and have acquired a few investment properties over the past couple of years. I Have strong desire and passion in becoming a property developer. I'm very ambitious and always think big.

I want to become a successful property developer and I need someone to mentor and guide me through their own successes and mistakes. I'm looking for someone who have had experience in property and land development.
At the moment I got minimal experience in property development but everyday I'm educating my self with new piece of information with property development and acquisition. I'm self motivated and need someone to hold me accountable and responsible so that I can be disciplined to make a mark for my self in the Property Development business.

I was hoping to find someone that could give back and help me out with mentoring me and passing on advice. My income from current active and passive income is enough for me to survive. I'm willing to work for free for developer in return for the teachings and learning.

If there is anyone out there that would be willing to share some advice & guidance and lives within Melbourne or anyone that would be willing to communicate via email or phone please contact me.


hey mate, alot of thing getting thrown at you and all make sense, they say you need heap of capital, think out side the box, you can raise your own without using any of your own money upfront, its called being creative.

different ways to get in, putting options on property you find and putting the right deal that wins for everyone, you can be the middle man and not have to put any money in the deal, you dont have to be building house's or units straight up, and they have said raise the capital, but be creative in different ways.
 
If you want people to teach you then offer them to pay for it. For example if you had offered a $10k for developers on this forum to teach you, I am sure you would have found quite a few willing souls.

You don't need that much cash to start in the development business - around $200k would get you started in a small scale project (house or a duplex). And if you combine wonders of GST with residential finance (80-90% LVR) then your cash requirements will be even less.

If you want an actionable piece of advice then I would recommend going to the council's website and studying all DA applications for the last month/year. Councils, these days, put absolutely everything online, therefore you will be able to see how it is all done.
Drive around your area and find recent developments similar to what you would like to undertake, then check them on the web site. If they have used a town-planner then call him/her and tell that you are looking at doing similar development. For a small fee he/she will tell you everything about the project, costs, list of specialists and their fees, council issues etc.

Can you read technical drawings, do you know the basic architectural and construction terms, do you know common construction methods, their pros and cons, construction costs?
If not then start studying, development is like any other business - you have to know what you are doing in order to make money consistently.

The end goal should be your ability to look at a block of land and quickly estimate what can be built on it, how much it will cost and whether you will make any profit or not. This is not as hard as it sounds - everything in town-planning is codified and councils for most part work by the code - the development needs to either comply with the code, acceptable solution or be impact assessed.

As mentioned in the previous post, there are way of structuring deals where you get paid for being a man in the middle and I can confirm that from time to time I see these sort of deals where if I had time and energy to do the legwork I would have ended up with some profit without actually investing much of my own cash. However I doubt that a person without any prior experience in the development can pull it off without being lucky to be at the right place at the right time.
 
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